For the three-month period ended December 31, 2025, ECN Capital reported Adjusted net income applicable to common shareholders of $13.6 million or $0.05 per share (basic) versus $16.7 million or $0.06 per share (basic) for the previous three-month period and $4.4 million or $0.02 per share (basic) for the prior year comparable period.
Originations for the three-month period ended December 31, 2025 were $662.4 million, versus $826.8 million in the previous three-month period and $547.6 million for the prior year comparable period. Originations for the three-month period ended December 31, 2025 include $447.9 million of originations from our Manufactured Housing Finance segment and $214.5 million of originations from our Recreational Vehicle and Marine Finance segment.
Managed Assets as at December 31, 2025 were $7.3 billion versus $8.2 billion as at September 30, 2025 and $6.9 billion as at December 31, 2024.
Adjusted EBITDA for the three-month period ended December 31, 2025 was $36.2 million versus $40.6 million for the previous three-month period and $24.1 million for the prior year comparable period.
Operating Expenses for the three-month period ended December 31, 2025 were $35.8 million versus $34.0 million for the previous three-month period and $31.1 million for the prior year comparable period.
Net income attributable to common shareholders for the three-month period ended December 31, 2025 was $4.5 million versus net income of $11.2 million for the previous three-month period and net loss of ($3.9) million for the prior year comparable period.
Acquisition of ECN Capital Corp. led by Warburg Pincus LLC
"The company is actively engaged in obtaining the necessary approvals for the transaction and progress is tracking to closing early in the second quarter", said CEO Steve Hudson.
On November 13, 2025, the Company entered into a definitive arrangement agreement (the "Arrangement Agreement") to be acquired by Sinatra CA Acquisition Corp. (the "Purchaser"), a newly formed acquisition vehicle controlled by an investor group led by investment funds managed by Warburg Pincus LLC, in an all-cash transaction that values the Company at an enterprise value of approximately C$1.9 billion. Pursuant to the Arrangement Agreement, the Purchaser will acquire (i) all of the issued and outstanding common shares of the Company for C$3.10 in cash per common share, (ii) all of the issued and outstanding cumulative 5-year minimum rate reset preferred shares, Series C of the Company (the "Series C Preferred Shares") for C$26.00 ...
